Adecco SA has announced that all relevant conditions have been met to acquire all of the issued and outstanding share capital of jobpilot AG. In excess of the required 75% of jobpilot shareholders - more than 91% - have accepted the offer at the end of the offer period and regulatory authorities in all relevant jurisdictions have given their approval. The offer is therefore now unconditional. Pursuant to German law, all shareholders not having accepted the offer are given an additional period to do so. Such period will end on 10th May 2002. 12.00 midday.
According to Adecco Group CFO Felix Weber, We are delighted that our offer has proved so attractive to jobpilot''s shareholders and that regulatory approval for the acquisition has been granted sooner than expected. We strongly believe that jobpilot''s entry into the Adecco family will create a leading European online staffing, recruiting and service company by combining jobpilot''s internet platform with the branch network of Adecco. We are convinced that this is a great opportunity for the remaining jobpilot shareholders to accept the
offer.
Dr. Roland Metzger, CEO and founder of jobpilot, said: We thank our investors who strongly supported us und accepted this strategic deal. Now the vital process of integrating jobpilot into Adecco will be our focus. The e-Recruiting market will continue to be a growing market and we have all the options to shape and gain an even bigger portion
of this market.
Credit Suisse First Boston acted as financial advisor to Adecco. J.P. Morgan acted as financial advisor to jobpilot.
The Adecco network connects up to 700,000 associates with business clients each day through its network of over 30,000 employees and over 6,000 offices in 59 countries.
jobpilot sites are now online in 15 European countries. range of services includes several innovative products in addition to publishing job vacancies and requests jobpilot workflow, Direct-Selection and Online-Assessmen.
Adecco fulfils all necessary conditions for jobpilot acquisition
.